Wix Results Presentation Deck
Collections per new subscription increased for the third consecutive
quarter and was 14% higher than at the end of last year due to a greater
mix of subscriptions with a vertical application attached and increasing
App Market purchases.
Exceeded high end of guidance ranges with strong top-line growth and record
Adjusted EBITDA. Collections continued to grow in excess of 40% year over
year while exceeding the top end of our outlook and setting a new record.
Adjusted EBITDA was positive for the sixth consecutive quarter, to a record
$11.4 million, and we continued to generate positive free cash flow. Our unique
combination of scale, high-growth and positive cash flow is a direct result of
continued product innovation and marketing execution.
Strong initial results from Wix ADI. We made Wix ADI available in English to all
users globally in late August. Since the release, we have seen an improvement
in our overall conversion rate, as well as a dramatic reduction in the time it
takes our users to build a website on Wix. In addition, we have seen a
meaningful increase in adoption of our vertical applications. We continue to
make enhancements to the product and are even more excited by the potential
of Wix ADI than we were when we first unveiled it publicly.
US business accelerated and we continue to take greater market share.
Collections growth in the US accelerated to 48% year over year as we took
additional market share from our competitors. Our largest market is stronger
than ever as our brand and superior technology platform continues to resonate
strongly with small businesses.
Strong beat drove a significant increase in annual financial outlook. We are on
a significantly higher trajectory than we expected at the beginning of the year
when we introduced our full year guidance and are increasing our full year
outlook by a significant margin. Our consistent outperformance is proof that
Third Quarter Financial Performance
Actual Results
$75.6 million
$87.3 million
$11.4 million
GAAP Revenue
Collections
Adj. EBITDA
Prior Guidance
$72-73 million
$83-84 million
$9-10 million
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